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Hertfordshire Cambridge East of England

A Tax & Broader Agenda for Business

19 Jun 2017
IoD East of England talks tax

Both IoD Hertfordshire and IoD Cambridgeshire have welcomed Stephen Herring, Head of Taxation for the IoD, to events in recent weeks.

Stephen firstly attended a Herty breakfast event for IoD Hertfordshire which took place prior to the election. Stephen provided details of the feedback the IoD had given to the government prior to the election and explained that the points below are what IoD members have requested;

  • Initiate a immediate consultation into reforming business rates, focussing upon the treatment of SMEs
  • Create a more level playing field for the employed and self-employed including reforming NICs post Taylor Review
  • Raise the Annual Investment Allowance from £200,000 to £1 million
  • Instruct HMRC to issue a tax planning ‘white-list’ to emphasise government acceptance that authentic tax planning is not only acceptable but desirable
  • Simplify the business & personal tax regimes to remove inconsistencies, disincentives and politically driven anomalies
  • Recognise that global tax competition will certainly continue and probably increase
  • over the next Parliament (and is not limited on corporation tax rates)
  • Simplify – or replace corporation tax for most SMEs
  • Stephen’s second visit to the region was on Wed 15 June in Cambridge. Stephen had been able to study the DUP manifesto to share what they had to say about tax which was as follows:-
    • Further increases in the personal tax allowance
    • Abolish the TV licence fee (and reform the BBC structure, services & funding)
    • Support the pensions triple-lock and improve financial treatment of women pensioners
    • Support continuation of universal benefits (including free transport for over 60s)
    • Reduce corporation tax in Northern Ireland to 12.5%
    • A cut in the VAT rate for tourism businesses
    • Abolition of Air Passenger Duty

    In addition to his extensive tax knowledge Stephen was also able to share highlights on other IoD policy topics including Brexit, Infrastructure, Entrepreneurship and Governance.

  • Contact IoD East of England

    For more information, please contact:

    East of England

    Branch and staff contacts can be found on the main Contacts tab